Income Tax Form 67: AMT Computation Report under Income Tax Act, 2025

Form 67 under section 206(2) of the Income-tax Act, 2025 is a mandatory report for non-corporate taxpayers liable to pay Alternate Minimum Tax (AMT), where regular tax is lower than AMT. It requires certification by a Chartered Accountant to validate the computation of Adjusted Total Income and AMT liability. The form must be filed annually along with the income tax return through the e-filing portal, failing which the return may be treated as defective or AMT credit benefits may be denied. It applies to specified taxpayers, with exemptions for those under the new tax regime or with adjusted income below prescribed thresholds. The revised Form 67 introduces structured computation, automated rate selection, and detailed disclosure requirements, enhancing transparency and reducing errors. It ensures proper verification of deductions and adjustments, enabling smoother processing and minimizing disputes, while also strengthening the tax administration’s ability to cross-verify AMT computations.

Income Tax Department
Ministry of Finance, Government of India

FAQs on Income Tax Form 67: AMT Computation Report under Income Tax Act, 2025

Report for computation of adjusted total income and alternate minimum tax for the purposes of section 206(2) of the Act

Form for furnishing of details under section 206(2) of the Income-tax Act, 2025

Q1. What is Form No. 67 ?

Ans: Form 67 is prescribed for furnishing details related to Computation of Adjusted Total Income and Alternate Minimum Tax (AMT) as per provisions of Section 206(2) of Income Tax Act, 2025

Q2. What is ” Adjusted Total Income “?

Ans: It is the taxable income of a non-company taxpayer adjusted (increased or decreased) by specific items mentioned in Section 206(2).

Q3. What is Alternate Minimum Tax (AMT)

Ans: Alternate Minimum Tax (AMT) is the Tax to be paid on Adjusted Total Income Computed as per Provisions of Section 206 (2) and at the rates mentioned therein.

Q4. Who should file Form 67?

Ans : It is to be filed by a person, other than a company with the exceptions as per Section 206(2)(d). Also, it is not to be filed by an individual or a Hindu undivided family or an association of persons or a body of individuals, whether incorporated or not, or an artificial juridical person referred to in section 2(77)(g) of the I.T. Act, 2025, if the adjusted total income of such person does not exceed twenty lakh rupees.

Q5. Is Form 67 mandatory?

Ans: It is mandatory for all taxpayers other than the company with the exception mentioned above and where “normal” tax payable by a person other than company, is lower than the calculated “Alternate Minimum Tax.

Q6. What are exempted entities from AMT?

Ans: The exemption clauses are defined in Section 206 e.g. If the taxpayer has opted for the New-Tax Regime, it is exempted from AMT. Similarly, Individual / HUF / AoP / BoI / AJP, are exempted from AMT if the adjusted total income does not exceed twenty lakh rupees.

Q7. What is the time limit for filing Form 67?

Ans : It must be filed along with the return of income

Q8. Do I have to calculate AMT, even if the net income is loss?

Ans: Yes.

Q9. If my income tax as per regular provisions is more than the AMT, do I have to pay AMT?

Ans: No, the taxpayer has to pay the higher of the two.

Q10. Can I file Form 67 myself (DIY)?

Ans: Technically, you can log in and upload it, but the form requires a certificate from a Chartered Accountant (CA). You cannot generate this certificate yourself.

Q11. Why do I need a CA?

Ans: Section 206 mandates that an “Accountant” (CA) must certify that the computation of Book Profit or Adjusted Total Income is correct.

Q12. What happens if I file my ITR but forget Form 67?

Ans: Your return will be considered “defective” or the tax officer will process it without giving you the benefit of AMT credits.

Q13. Is the form filed online or offline?

Ans:    It is filed electronically on the Income Tax Portal.

Q14. Is there a fee for filing Form 67?

Ans: There is no government fee for the form itself, but your CA will charge a professional fee for certification.

Q15. How is AMT calculated under Section 206?

Ans: The Form 67 has been aligned with the provisions of the Sub-section 2 of the Section 206. Taxpayer needs to fill the respective fields and the AMT will be calculated.

Q16. Does Section 206 allow for depreciation adjustment?

Ans: Yes, depreciation is one of the main adjustments. The amount of depreciation is adjusted to reach Adjusted Total Income.

Q17. Does Section 206 consider Ind-AS (Indian Accounting Standards)?

Ans: Yes, Section 206 has specific subsections dealing with “Transition Amounts” for companies following Ind-AS to ensure fair calculation.

Q18. What happens if the information in Form 67 is wrong?

Ans: You may receive a notice for “Defective Return” or a demand notice under Section 270(1) of the I.T. Act, 2025 (S. 143(1) of the I.T. Act, 1961) asking for higher tax. You will have to revise the form.

Q19. Can I revise Form 67?

Ans: Yes, if you discover an error, your CA can file a revised form, and you must then file a Revised ITR.

Q20. What is the penalty for not obtaining the CA report?

Ans: The return will be defective.

Q21. Does Section 206 apply if I opt for the “New Tax Regime” as per S. 202 , S. 203 and S. 204 of the I.T. Act, 2025 (S. 115BAC, S. 115BAD, 115BAE of the I.T. Act, 1961)?

Ans: No, it is exempted.

Q22. Can I appeal against a Section 206 addition?

Ans: Yes, if the tax officer calculates your Adjusted Total Income incorrectly during scrutiny, you can file an appeal before the Commissioner (Appeals).

Guidance Note on Income Tax Form 67: AMT Computation Report under Income Tax Act, 2025

Form 67 – Report under Section 206(2) of the Income Tax Act, 2025

Purpose of Form 67

Form 67 is a report required to be furnished by a chartered accountant certifying the book profit computed under Section 206(2) of the Income Tax Act, 1961 (Alternate Minimum Tax – AMT). It ensures that the assesse’s computation of Adjusted Total Income and the corresponding AMT liability is in accordance with the provisions of the Act and Rules. This form is prescribed under Rule 138 of the Income Tax Rules, 2026.

The New Form 67 has been proposed in accordance with the newly enacted Section 206 of the Income-tax Act, 2025, replacing the earlier framework under Section 115JC.

Who Should File

Every person other than a company [and subject to exceptions in Section 206(2)(d) in New Income Tax Act] and in whose case Tax Payable on total income as computed under the regular provisions of the Income Tax Act is less than 18.5% of its Adjusted Total Income (except for IFSC Unit deriving its income solely in Convertible Foreign Exchange, for which rate is 9% and co-operative societies where rate is 15%), and thus liable to pay Alternate Minimum Tax (AMT) Section 115JC (under old Income tax Act, 1961) must obtain and furnish Form 67. The form must be certified and digitally signed by a practicing Chartered Accountant (CA).

Under the new Section 206 also, this form continues to apply to non-corporate taxpayers, but the scope and classification have been updated and in the section itself, different tax rates are mentioned for following distinguishable entities:

1. A unit located in IFSC earning exclusively in convertible foreign exchange (non-company)

2. Co-operative societies

3. Any other person (excluding company, co-operative society, IFSC unit)

This structured classification is a major modification, allowing automatic rate selection for AMT computation.

Frequency & Due Dates

Form 67 must be furnished:

• Annually,
• Along with the return of income as per provisions of section 63 (Old Section 139)
• Electronically signed by a Chartered Accountant or eligible auditor

Documents Required

• PAN and registration details of the Assessee
• Standard CA credentials including UDIN and DSC
• Financial Statements (P&L and Balance Sheet)
• Tax audit report (As Applicable)
• Details of adjustments made to arrive at book profit
• Proof of deductions claimed under relevant sections
• Computation of total income and Adjusted Total Income under Old Section 115JC/New Section 206(2)

Process Flow

1. Preparation of Report: Chartered Accountant computes book profit under Section 67 and prepares Form 67 using prescribed utility on e-filing portal.

2. Digital Signature by CA: The CA verifies and digitally signs Form 67 using registered DSC.

3. Submission by Assessee: The assesse must submit the report in its e-filing account before filing ITR.

4. Linking with ITR: Once accepted, the acknowledgment number of Form 67 is auto-linked with ITR.

5. Processing by CPC: CPC cross-verifies the AMT computation and CA certification during return processing.

Outcome of New Form 67

For Taxpayer

• Transparent and uniform computation of AMT
• Reduced risk of adjustments during processing
• Better clarity on deduction-wise adjustments
• Validation of computation of Adjusted Total Income and AMT
• Avoids mismatches and ensures smooth ITR processing

For Income Tax Department

• Improved data structuring
• Ease of cross-verification with Chapter VIII-C claims
• Ensures independent certification of Adjusted Total Income and AMT liability.

Brief Note on Broad or Qualitative Changes Proposed:

1. Structure of New Form 67 (Key Modifications)

The report in Form 67 comprises of following parts –

(i) Part A – Personal Information

The New Form 67 introduces a significantly detailed and itemized annexure, consisting of a new Part A – Personal Information block which is standardized across forms. It is a comprehensive block covering:

• • Name
  • PAN
  • Address components
  • Contact details including Aadhaar-linked mobile
  • Nature of Business
  • Tax Year

(ii) Part B – Computation of Alternate Minimum Tax

Key modifications include:

This is a structural modernization ensuring traceable, step-wise computation as also allowing the linkage with relevant field in ITR.

AMT Computation simplified

• Old form had a fixed AMT rate table.
• New form provides rate selection based on Type of Assessee via drop-down.
• Rates now automatically link to the category defined in Section 206(2)(b)(ii).

(iii) Certification Part

• The initial certification paragraph in the Old Report is now appended to the main Report.
• Language is modernized and standardized. Explicit disclosure of Tax Year, not AY/PY (consistent with uniform terminology in New Act)

2. Standardization Improvements

Consistent with common changes across forms such as:

• Standard identifiers (PAN, Aadhaar)
• Uniform “Tax Year” terminology
• Currency standardization to ₹

3. Technology and Utility Enhancements

• Dropdown menus
• Automated arithmetic checks
• Pre-filled Data for Personal Details

Challenges and Solutions

Common Changes made across Forms (including Form 67):

• Standardization of names, address, and identifiers (PAN, Aadhaar, CIN, FRN)
• Uniform use of “Tax Year” terminology
• Currency standardized to ₹